We conduct 3-person bargaining experiments in which the surplus being divided is produced by completing a prior task. Using a Baron-Ferejohn framework, we investigate how differences in contributions to production affect bargaining under different decision rules. Under unanimity rule, all...

We study three fundamental components of financial agency settings: Perception and communication of investment profiles, the interaction of agents’ and clients’ preferences, and the role of (non-)monetary incentives. The perception of investment profile terminology is very heterogeneous,...

Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and economists. We obtain two results: (1) Holding individual...